Damon Hair Stylists's adjusted trial balance and statement of retained earnings follow. Prepare

Damon's unclassifed balance sheet at

December

31,

2024.

Use the account form.

Damon Hair Stylists

Adjusted Trial Balance

December 31, 2024

Balance

Account Title

Debit

Credit

Cash

$1,700

Accounts Receivable

2,000

Office Supplies

400

Equipment

20,100

Accumulated DepreciationEquipment

$2,000

Accounts Payable

950

Interest Payable

400

Notes Payable

3,700

Common Stock

11,250

Dividends

900

Service Revenue

15,200

Rent Expense

5,500

Supplies Expense

200

Depreciation ExpenseEquipment

2,000

Interest Expense

700

Total

$33,500

$33,500

(Click on the icon to view the adjusted trial balance.)

Damon Hair Stylists

Statement of Retained Earnings

Year Ended December 31, 2024

Retained Earnings, January 1, 2024

$0

Net income for the year

6,800

6,800

Dividends

(900)

Retained Earnings, December 31, 2024

$5,900

(Click on the icon to view the statement of retained earnings.)

Begin by preparing the asset section of the balance sheet, then prepare the liabilities and stockholders' equity sections. (If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero. Abbreviation used: Acc. Depr. = Accumulated Depreciation.)

Damon Hair Stylists

Balance Sheet

December 31, 2024

Assets
Less:

Liabilities
Stockholders' Equity

Choose from any list or enter any number in the input fields and then continue to the next question.